Fincantieri seals $88.6m deal for majority stake of STX France

Fincantieri seals $88.6m deal for majority stake of STX France

Italian shipbuilder Fincantieri has signed a share purchase agreement with STX Europe to acquire their 66.66% stake of STX France for €79.5m ($88.6m).

Fincantieri is now negotiating with the French State, the other shareholder of the yard, for the finalisation of the shareholders’ agreement in accordance with the heads of terms signed in April.

In January, Fincantieri was designated the preferred bidder by a court in South Korea handling the restructuring of STX Offshore & Shipbuilding.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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